For Release at
4:30 P.M. EST
November 4, 1999
H.3
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25, 1999, th |
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FEDERAL RESERVE ST | TISTICAL RELE | ASE | |||||||
H.3 (502) | |||||||||
Table 1 | For Release a | t 4:30 p.m. E | astern Time | ||||||
November | 4, 1999 | ||||||||
AGGREGATE RESERVES | OF DEPOSITORY | INSTITUTIONS | AND THE MONETAR | Y BASE | |||||
Adjusted for chang | s in reserve | requirements1 | |||||||
Averages of daily | igures, seaso | nally adjuste | d unless noted o | therwise | |||||
Millions of dollar | |||||||||
------------------ | ------------- | ------------- | ---------------- | ------------- | ------------- | ------------- | ------------- | ------------- | ------------- |
Re | serves of dep | ository institut | ions | Borrowi | ngs of deposi | tory institut | ions from | ||
the Feder | al Reserve, N | SA | |||||||
----------- | ------------- | ---------------- | ----------- | ----------- | ------------- | ------------- | ------------- | ||
Special | |||||||||
Date | total2 | nonborrowed3 | required | excess NSA4 | Monetary | total6 | adjustment | seasonal | Liquidity |
------------------ | ------------- | ------------- | ---------------- | ------------- | ------------- | ------------- | ------------- | ------------- | ------------- |
1998-Oct. | 44405 | 44231 | 42831 | 1574 | 505843 | 174 | 67 | 107 | |
Nov. | 44497 | 44414 | 42873 | 1624 | 509144 | 83 | 47 | 37 | |
Dec. | 44902 | 44785 | 43319 | 1583 | 512321 | 117 | 101 | 15 | |
1999-Jan. | 45125 | 44920 | 43591 | 1534 | 516807 | 206 | 199 | 7 |
Apr. 43979 43812 42820 1159 528741 166 128 39
May 44360 44233 43105 1256 534860 127 39 89
June 42867 42722 41606 1261 537625 145 18 127
July 41978 41669 40902 1076 541202 309 83 226
Aug. 42067 41723 40938 1129 544414 344 72 271
Sep. 42113 41774 40916 1197 549517 338 56 282
Oct. p 40938 40657 39799 1139 556741 281 52 221 8
Two weeks ending
1999-Sep. 8 42756 42438 41548 1207 546824 318 35 284
22 42132 41809 41110 1022 548982 323 48 276
Oct. 6 41435 41050 39943 1491 553145 385 91 294 1
20 40695 40431 39582 1113 555749 265 21 244 1
Nov. 3p 40977 40731 39996 980 559966 246 72 153 22
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1. Reserves and monetary base figures incorporate adjustments for discontinuities, or "breaks", associated with regulatory changes in reserve
requirements. For more information, see Table 3.
2. Seasonally adjusted, break-adjusted total reserves equal seasonally adjusted, break-adjusted required reserves plus unadjusted excess
reserves. (Also, see footnote 2 on Table 2 and footnote 2 on Table 3.)
3. Seasonally adjusted, break-adjusted nonborrowed reserves equal seasonally adjusted, break-adjusted total reserves less unadjusted total
borrowings of depository institutions from the Federal Reserve.
4. Excess reserves NSA equals unadjusted total reserves (Table 2, column 1) less adjusted required reserves (Table 2, column 3).
5. The seasonally adjusted, break-adjusted monetary base consists of (1) seasonally adjusted, break-adjusted total reserves plus (2)
sted, break-adjusted difference between | amount applied to satisfy current rese | ||||||||
---|---|---|---|---|---|---|---|---|---|
. Borrowing at t | e discount wi | dow under th | terms and c | nditions establ | lished for |
ntury Date | hange Specia |
Liquidity F | cility in effec |
H.3 (502) | |||||||||
Table 2 | |||||||||
AGGREGATE RESERVES | OF DEPOSITORY | INSTITUTIONS | AND THE MONE | TARY BASE | |||||
Not adjusted for c | hanges in rese | rve requireme | nts1 | ||||||
Averages of daily | figures, not s | easonally adj | usted | ||||||
Millions of dollar | s | ||||||||
------------------ | -------------- | ------------- | ------------- | ------------- | ------------ | ------------- | ------------- | ------------- | ------------- |
Reserves of d | epository ins | titutions | V | ault cash5 | |||||
- | -------------- | ------------- | ---------- | - | ------------- | ------------- | ----------- | ||
Reserve | used to | Net carryove | |||||||
Date | total2 | nonborrowed | required | Monetary base | balances | total | satisfy | surplus7 | of reserve |
with F.R. | required | balances8 | |||||||
Banks4 | reserves6 | ||||||||
------------------ | |||||||||
1998-Oct. | 44117 | 43943 | 42543 | 511359 | 9027 | 43268 | 35089 | 8179 | |
Nov. | 44152 | 44069 | 42528 | 516958 | 8855 | 43104 | 35297 | 7807 | |
Dec. | 45018 | 44902 | 43435 | 525062 | 9021 | 44305 | 35997 | 8308 | |
1999-Jan. | 46345 | 46139 | 44811 | 527587 | 9658 | 45499 | 36687 | 8812 | |
Feb. | 45237 | 45122 | 44022 | 526850 | 8578 | 46468 | 36660 | 9809 |
Apr. 43645 43478 42486 533491 9238 42164 34407 7757
May 44875 44747 43619 539984 10070 42459 34805 7654
June 42394 42249 41133 542818 8539 42632 33856 8776
July 41802 41493 40726 548065 7797 44059 34005 10054
Aug. 41871 41527 40742 550858 7802 44664 34069 10595
Sep. 41787 41449 40590 555141 7698 44519 34089 10430
Oct. p 40697 40416 39558 562233 6766 47013 33932 13082
Two weeks ending
1999-Sep. 8 42596 42278 41388 553109 8470 43774 34126 9648 82
22 41766 41443 40744 555231 7440 44556 34327 10229 199
Oct. 6 41016 40631 39524 557018 7380 45199 33636 11563 -60
20 40527 40263 39414 562263 6531 47350 33997 13353 205
Nov. 3p 40741 40495 39761 565041 6730 47576 34011 13565 119
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and adjustments to compensate for float at Federal Reserve Banks plus (3) the currency component of the money stock plus (4), for all
quarterly reporters on the "Report of Transaction Accounts, Other Deposits and Vault Cash" and for all those weekly reporters whose
vault cash exceeds their required reserves, the difference between current vault cash and the amount applied to satisfy current reserve
requirements. Currency and vault cash figures are measured over computation periods ending on Mondays.
4. Excludes required clearing balances and adjustments to compensate for float and includes other off-balance sheet "as-of" adjustments.
5. Vault cash eligible to satisfy reserve requirements. It includes only vault cash held by those banks and thrifts that are not exempt
amount of vault cash applied during the | ||||
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7. Total vault cas | eligible to | satisfy reser | ve requiremen | ts, held by dep |
8. Consists of car | yover only at | depository i | nstitutions m | aintaining rese |
or deficit (-) | eserves eligi | ble to be car | ried forward | into the two-we |
p--preliminary | ||||
H.3 (502) | ||||
Table 3 | ||||
AGGREGATE RESERVES | OF DEPOSITORY | INSTITUTIONS | AND THE MONE | TARY BASE |
Adjusted for chang | s in reserve | requirements1 | ||
Averages of daily | igures, not s | easonally adj | usted | |
Millions of dollar | ||||
------------------ | ------------- | ------------- | ------------- | --------------- |
Reserves of | depository i | nstitutions | ||
------------- | ------------- | ------------- | ||
Date | ||||
------------------ | ------------- | ------------- | ------------- | --------------- |
1998-Oct. | 44201 | 44027 | 42627 | 504465 |
Nov. | 44243 | 44160 | 42619 | 510137 |
Dec. | 45118 | 45002 | 43535 | 518278 |
1999-Jan. | 46340 | 46135 | 44806 | 520009 |
Mar. 43141 43076 41836 523353
Apr. 43671 43504 42512 526774
May 44908 44781 43652 533116
June 42434 42290 41173 535881
July 41848 41539 40772 540979
Aug. 41923 41579 40794 543867
Sep. 41848 41510 40651 548083
Oct. p 40764 40483 39625 555106
Two weeks ending
1999-Sep. 8 42653 42335 41446 546177
22 41827 41504 40804 548247
Oct. 6 41081 40696 39589 549702
20 40596 40331 39483 555219
Nov. 3p 40806 40560 39826 557910
p--preliminary pe--preliminary estimate
1. Figures reflect adjustments for discontinuities, or "breaks", associated with
regulatory changes in reserve requirements.